State of New Jersey Common Pension Fund D Sells 406 Shares of Camden Property Trust (NYSE:CPT)

State of New Jersey Common Pension Fund D reduced its position in Camden Property Trust (NYSE:CPT) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,943 shares of the real estate investment trust’s stock after selling 406 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of Camden Property Trust worth $13,324,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPT. Bellwether Advisors LLC bought a new position in Camden Property Trust in the 4th quarter valued at about $31,000. Tsfg LLC bought a new position in Camden Property Trust in the 1st quarter valued at about $40,000. National Pension Service boosted its stake in shares of Camden Property Trust by 74.2% in the 1st quarter. National Pension Service now owns 392 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 167 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Camden Property Trust by 47.4% in the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 158 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Camden Property Trust in the 1st quarter valued at approximately $64,000. 97.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPT. Citigroup reduced their price target on shares of Camden Property Trust from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho reduced their price target on shares of Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Barclays reduced their price target on shares of Camden Property Trust from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley reduced their price target on shares of Camden Property Trust from $130.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on shares of Camden Property Trust from $126.00 to $114.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $124.94.

Camden Property Trust Stock Up 0.8%

Camden Property Trust stock opened at $106.82 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69. The firm has a 50 day moving average price of $112.59 and a two-hundred day moving average price of $115.60. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 74.70, a PEG ratio of 3.63 and a beta of 0.78.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.01. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. During the same quarter last year, the business earned $1.71 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were paid a $1.05 dividend. The ex-dividend date was Monday, June 30th. This represents a $4.20 annualized dividend and a dividend yield of 3.9%. Camden Property Trust’s payout ratio is currently 293.71%.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.